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Waquar Ahmed - India’s New Economic Policy: A Critical Analysis

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Waquar Ahmed India’s New Economic Policy: A Critical Analysis

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Conventional interpretations of the New Economic Policy introduced in India in 1991 see this program of economic liberalization as transforming the Indian economy and leading to a substantial increase in the rate of Indias economic growth. But in a country like India, growth is not enough. Who benefits from the new growth regime, and can it significantly improve the conditions of livelihood for Indias 800 million people with incomes below $2.00 a day? This edited volume looks at international policy regimes and their national adoption under strategic conditions of economic crisis and coercion, and within longer-term structural changes in the power calculus of global capitalism. The contributors examine long-term growth tendencies, poverty and employment rates at the national level, regional level and local levels in India; the main growth centers; the areas and people left out; the advantages and deficiencies of the existing policy regime, and alternative economic policies for India. Bringing together the leading figures in the discussion on Indias economic policy, this volume is the authoritative critical study of Indias New Economic Policy.

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Indias New Economic Policy

Routledge Studies in Development and Society

1. Searching for Security

Womens Responses to Economic Transformations

Edited by Isa Baud and Ines Smyth

2. The Life Region

The Social and Cultural Ecology of Sustainable Development

Edited by Per Rberg

3. Dams as Aid

Anne Usher

4. Politics of Development Cooperation

NGOs, Gender and Partnership in Kenya

Lisa Aubrey

5. Psychology of Aid

A Motivational Perspective Stuart Carr, Eilish McAuliffe and

Malcolm MacLachlan

6. Gender, Ethnicity and Place

Women and Identity in Guyana

Linda Peake and D. Alissa Trotz

7. Housing and Finance in Developing Countries

Edited by Kavita Datta and Gareth Jones

8. Peasants and Religion

A Socioeconomic Study of Dios Olivorio and the Palma Sola Religion in the Dominican Republic

Jan Lundius and Mats Lundahl

9. Environment and Development in the Straits of Malacca

Mark Cleary and Goh Kim Chuan

10. Technical Knowledge and Development

Observing Aid Projects and Processes

Thomas Grammig

11. World Bank and Urban Development

From Projects to Policy

Edward Ramsamy

12. Poverty Orientated Agricultural and Rural Development

Hartmut Brandt and Uwe Otzen

13. Political Conflict and Development in East Asia and Latin America

Edited by Richard Boyd, Benno Galjart and Tak-Wing Ngo

14. Marine Natural Resources and Technological Development

An Economic Analysis of the Wealth from the Oceans

Marco Colazingari

15. Global Migration and Development

Edited by Ton van Naerssen, Ernst Spaan, and Annelies Zoomers

16. Children, Structure, and Agency

Realities Across the Developing World

G.K. Lieten

17. Understanding the Social Dimension of Sustainability

Edited by Jesse Dillard, Veronica Dujon and Mary C. King

18. On the Edges of Development

Cultural Interventions

Edited by Kum-Kum Bhavnani, John Foran, Priya Kurian and Debashish Munshi

19. Rural Development Theory and Practice

Ruth McAreavey

20. The Political Economy of Water and Sanitation

Matthias Krause

21. Dislocation and Resettlement in Development

From Third World to the World of the Third

Anjan Chakrabarti and Anup Kumar Dhar

22. Community Development in Asia and the Pacific

Manohar S. Pawar

23. Development Poverty and Politics

Putting Communities in the Drivers Seat

Richard Martin and Ashna Mathema

24. Protecting Biological Diversity

The Effectiveness of Access and Benefit-sharing Regimes

Carmen Richerzhagen

25. Social Development

Critical Themes and Perspectives

Edited by Manohar S. Pawar and David R. Cox

26. Indias New Economic Policy

A Critical Analysis

Edited by Waquar Ahmed, Amitabh Kundu and Richard Peet

Indias New Economic Policy

A Critical Analysis

Edited by Waquar Ahmed, Amitabh Kundu and Richard Peet

Indias New Economic Policy A Critical Analysis - image 1

New York London

First published 2011
by Routledge
270 Madison Avenue, New York, NY 10016

Simultaneously published in the UK
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN

Routledge is an imprint of the Taylor & Francis Group, an informa business

This edition published in the Taylor & Francis e-Library, 2010.


To purchase your own copy of this or any of Taylor & Francis or Routledges collection of thousands of eBooks please go to www.eBookstore.tandf.co.uk.

2011 Taylor & Francis

The right of Waquar Ahmed, Amitabh Kundu and Richard Peet to be identified as the
authors of the editorial material, and of the authors for their individual chapters, has
been asserted by them in accordance with sections 77 and 78 of the Copyright, Designs
and Patents Act 1988.

All rights reserved. No part of this book may be reprinted or reproduced or utilised
in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or
retrieval system, without permission in writing from the publishers.

Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.

Library of Congress Cataloging-in-Publication Data
Indias new economic policy : a critical analysis / edited by Waquar Ahmed, Amitabh
Kundu, and Richard Peet.
p. cm. (Routledge studies in development and society ; 26)
Includes bibliographical references and index.
1. IndiaEconomic policy1991 2. IndiaEconomic conditions
1991 I. Ahmed, Waquar. II. Kundu, Amitabh, 1948 III. Peet, Richard.
HC435.3.I62438 2010
330.954dc22
2010003753

ISBN 0-203-84681-8 Master e-book ISBN

ISBN13: 978-0-415-80188-1 (hbk)

ISBN13: 978-0-203-84681-0 (ebk)

Contents


WAQUAR AHMED, AMITABH KUNDU, AND RICHARD PEET


RICHARD PEET


WAQUAR AHMED


AMITABH KUNDU


SWAPNA BANERJEE-GUHA


SHIPRA MAITRA


BHARATI CHATURVEDI AND VINAY GIDWANI


IPSITA CHATTERJEE


ROHIT NEGI


SUMAN SAHAI


UTSA PATNAIK


RUPAL OZA


DAVID FEATHERSTONE


RAJU J. DAS

Tables

2.1

Growth Data, 19502005 (all figures in percentage per annum)

2.2

Patterns of Capital Formation, by Sector 19702005 (percentage of GDP)

2.3

Five-Year Plans and Growth of Power-Generating Capacity

3.1

Number of Towns, Percentage and Growth Rate of Urban Population in India since 1901

3.2

Annual Exponential Growth Rate of Urban Population for Major Regions of the World and Asia

3.3

Annual Exponential Growth Rates of Urban Population in Different Size Categories

3.4

Annual Exponential Urban Growth and URGD for India as Given in World Urbanization Prospects of UNDP in Different Revisions

3.5

Growth Rate of Jobs by Sector of Activity between 1999 and 2004

3.6

Employment in the Formal and Informal Sector

4.1

Decline in Manufacturing Employment: Mumbai, 19801998

4.2A

Mumbais Growth Potential

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